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Daily Report 12-Apr-23

Indian market has another positive season lead by KOTAKBANK as news of potential weight increase MSCI May 2023 review, auto stocks were other key gainers, IT stocks seen some correction in 2nd half.

Wall Street had another muted session, as major economic data will start coming from today, US CPI & Core CPI data to be released today and US FOMC meeting minutes to be released today.

SGX Nifty @ 17799 up 12 points at 8:25 AM

US CPI & Core CPI data to be released today and US FOMC meeting minutes to be released today.

India ‘s CPI inflation data to be released today – estimate @ 5.80% Vs previous 6.44%.

HDFCBANK on 15-Apr-23 – to consider raising 50,000 crores during FY24 through perpetual debt instrument (part of AT1 capital).

TCS to declare result today after market hours & INFY on 13-Apr-23.

VIX @ 11.98: expect to increase to 14 level.

F&O Data: FII were net buyers by 24420 in Index futures including short position cover.  Net short position reduced to 60701 contracts which was at 138719 contracts at the end of 29-Mar-23.

Approach on Indices: Nifty @ 17799 & Banknifty @ 41625 are our target / resistance level, will require positive trigger to break above this level.  We expect some profit booking before this level are crossed.

SGX Nifty @ 17799 up 12 points at 8:25 AM

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